Mini-budget: Chancellor Kwasi Kwarteng announces major tax cuts

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Chancellor Kwasi Kwarteng has announced that the basic rate of income tax will be cut to 19p a year earlier from April 2023, with the 45% top rate abolished and replaced with a single top rate of 40%.
#Chancellor #MiniBudget #Economy
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Опубликовано:

22 сен 2022

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Комментарии : 258

@jamesc4198 Год назад

He has just sealed the fate of my business, I employ 16 members of staff who I will now have to let go as a reduction in VAT has not happened so I will be forced after 37 years to closed my doors due to the massive increases across the board and the total lack of help from the government.. the government is so out of touch with what's happening to the little business in this country. I'm so angry!

@easilyamused4807 Год назад

What better way than to vent it on RU-vid

@progressivedemagogue8480 Год назад

It’s not out of touch, they are delivering a wealth transfer from small businesses to oligarchs

@jabbadabbajew6035 Год назад

Anyone still think the Great Reset is a conspiracy?

@clacc2238 Год назад

@@progressivedemagogue8480 there is that part of the wealth transfer and also all the money due to be paid to energy companies from the energy cap that will be paid for by taxpayers with interest. Not to mention all the bankers who will wet their beaks from all financing involved

@dam8087 Год назад

Blame Tory voters as much as the Government, they elected these hideous crooks

@StephenFiorentini Год назад

Call a general election

@monty8838 Год назад

Look at that horrible women smiling

@toot1st105 Год назад

this is disgusting how did they think it was a good idea! this benefits 5% country the rich

@johnrussell3961 Год назад

The fat rats will be getting fatter before finally leaving the sinking ship.

@mel4856 Год назад

They are shameful. Just for the rich and do not care for the people

@Joe-ou3rr Год назад

Let’s just get Labour in number 10 now!!!!

@davidburrows4801 Год назад

So they can ruin the uk also.

@BruceWayne-vn5vg Год назад

Never

@Joe-ou3rr Год назад

@@BruceWayne-vn5vg thanks Batman

@andrewheron2399 Год назад

We've been bankrupt every time they've been in power. There will be no income to tax

@haych7 Год назад

Both awful this country needs Nigel Farage

@sm7085 Год назад

Basically anyone earning 150k+ will pay less tax...

@Aiden.Stinkhorn Год назад

This political freak show is over. Tories out, now!!

@Jay-zc7iq Год назад

All a rich man’s trick

@mal7175 Год назад

If this government was serious they would have increased the minimum threshold for income tax to 25k. If they're so concerned about rich tax avoiders they could simply hire more lawyers and accountants to close the loopholes.

@pandapalace9003 Год назад

They've never been serious about rich tax avoiders. They're the Tories.

@robertseavor4304 Год назад

Avoiding being robbed is awful.

@888ssss Год назад

if they were serious they would not have printed trillions of unbacked currency to play landlord.

@keithparlour2686 Год назад

They are concerned about the rich tax avoiders,that's why they won't do anything,the rich tax avoiders are them and their cronies

@John-Evans Год назад

The Tories are doing what they have always done - rob the poor to give to their rich party donors. Even the name “Tory” is derived from a word for “robber” or “pirate”, how appropriate. They point to benefits instead of addressing the profligate tax avoidance which they enable and facilitate by their inaction. The country is overdue a revolution. I can see it coming soon.

@DnBclassictunes Год назад

At least the richest get richer. What absolute bs

@backinthegame34 Год назад

No, the poor get richer too.

@somthingbrutal Год назад

London needs to get out on the streets and stay there until there is a general election

@mel4856 Год назад

Not just London

@fezario Год назад

CLose your eyes and you’d think your listening to Boris

@johnrussell3961 Год назад

It sounded like Osboune. And this crap never worked for him either. Instead of more tax we got more debt.

@kirstymclaughlin4370 Год назад

Call a GE already 🙄🙄

@psyber_spaced1192 Год назад

Riot instead

@psyber_spaced1192 Год назад

@@random-zw3gw because laws stop crime from occurring

@jonburnett90 Год назад

How are we not revolting!? How have working people become so content to take it up the arse from the wealthiest!? This is terrifying..

@mitchelljarvis2010 Год назад

Probably the sedative that was put in the covid vaccine! 🤔

@backinthegame34 Год назад

Rich people work hard too. Harder in fact which is why they are rich !

@manic2360 Год назад

Thousands of grannies will freeze to death to for rich peoples comfort..

@queersnowflake Год назад

At this point to cut tax for the rich is just shame and shows that the Britain is lost. These people should go to jail for deepening the poverty in their own home.

@celluskh6009 Год назад

Look how pleased they are with themselves giving themselves a pay rise. Them and their rich lobbyists and donators. Don't worry, the workers will just have to take on the burden. Can't let these spoiled brats miss their yearly Mercedes upgrade or a payment on their next yacht.

@michaelcoward1902 Год назад

they're probably all just amazed that we were stupid enough to let them get away with it.

@pureplay7071 Год назад

A budget for the rich.

@edfash9976 Год назад

Uh no its a budget for all of us in the UK

@pureplay7071 Год назад

@@edfash9976 If so how much will someone on 20 - 40k save a month then ?

@edfash9976 Год назад

@@pureplay7071 as a %? About the same as someone on 2k a month

@pureplay7071 Год назад

@@edfash9976 5% of nothing is still nothing.

@Human_Being__ Год назад

Evil 👿

@bluceree7312 Год назад

This guy and his boss are singing to the same tune: TAPS.

@trancevoyagesessions Год назад

No mandate, no idea, no plan. Welcome to Brexit..

@TheJacob95 Год назад

This will not do anything apart from help the wealthy even more. Please can we end this nightmare.

@rainingentertainment3104 Год назад

Who tf cares if the wealthy get more wealthy if it also brings up the lower class.. it’s far better than whats happening right now where everyone is getting absolutely railed without lube.

@totty1962 Год назад

They need booting out they are vile.

@violetviolet2634 Год назад

I Bought a SLEEPING BAG to stay WARM at home 😞😞😞

@Peterjamesjohn23 Год назад

Good idea

@violetviolet2634 Год назад

@@Peterjamesjohn23 this is only option to survive this winter 😂😂

@psyber_spaced1192 Год назад

Instead of civil unrest in Leicester, bus down to Westminster and focus on these criminals...

@iancullen954 Год назад

Blokes a Jeremy Hunt.

@Longi1974 Год назад

The repeal of the IR35 reforms from 2017 and 2021, plus the cancellation of the 1.25% rise to dividend tax is very welcome to contractors like me.

@williamnomates1456 Год назад

Smug, this lot will milk it till the next election.

@nelsongary5424 Год назад

Yes he will make it

@5D_Warrior Год назад

Yeah for the rich to say rich n poor to stay poor

@davidburrows4801 Год назад

Rich to get richer and richer.

@5D_Warrior Год назад

@@davidburrows4801 true story....hope your good David 👍

@raviankitaava Год назад

This cut for rich not for poor and middle class.

@backinthegame34 Год назад

Since the rich pay all the net tax in the first place, any tax cut by definition is a tax cut for the rich. Reagan did this and America boomed.

@TheUrbanHomebody Год назад

Something seems very funny to everyone sitting there..is there anything u wanna share? Lovely to see those smiles while we all starve

@jubb1984 Год назад

So cutting taxes will increase tax income, good ole logic there.

@michaelmather7352 Год назад

i wish i was rich

@michaelhoward5333 Год назад

Liz Truss smiling inside they don't care, that why tax cuts do damage. Cut anything the poor lose out.

@fakename45 Год назад

So much for lowering income tax to 10% on the lower bracket and 30% on the middle bracket... so much for introducing a larger marriage allowance... Tories focusing on the richest 5%, labour focusing on the poorest 5%, is there anybody focusing on the 90% in between?

@johnrussell3961 Год назад

New Labour focus on them. That’s why Socialist Labour call them Tory Lite.

@vishmaster09 Год назад

Stamp duty cut for everyone so people can buy their 5th homes cheaper. I'm sure most of the working people have 4 homes trying to buy a 5th home.

@cnj5107 Год назад

This is sooooooooo clear. Reduce tax for Tory donors and bugger everyone and everything else😂

@defmax29 Год назад

It is clever how they reduced income tax by a penny and simultaneously reduced the power of the pound. Increasing the price of everything which increases the value added tax.

@MaBaKar Год назад

Mini brain, mini budget, humongous disaster

@Silver-st2zq Год назад

Thanks again Red Wall for giving us the toff Tory party 👏

@garryg2279 Год назад

Never have I heard such BS. A total disaster. Wonder how soon taxes will rise to cover the cost of the next few months of winter. i.e. fuel subsidies rather than cancelling sanctions on oil and gas.

@tinamarinelli4325 Год назад

So help the rich and make everyone else suffer how is this going to help the every day family and why let the rich get the cut at least have an earning level that makes the rich stay at the level that already exists and let the tax cut be beneficial for us every day families

@cestraig Год назад

Before everyone starts to criticise the new chancellor and Prime Minister, we need to first of all review our corporation tax rate and compare it with Ielands. Their tax rate is low and has the highest growth rate out of every European country. I think Ireland has something like a 10% growth rate, so we need to give this a lot more time for everything to bed itself down. But corporations also need to have confidence that the UK isnt going to increase the corporation tax as soon as labour or another Chancellor and Prime Minister take office next. We can only see positive growth if confidence can be restored between companies and government. And this is the bit that i feel will ruin any chance of this working.

@harryrammer Год назад

Now the pound is at an all time low, he must feel like he’s “followed through” in his pants

@dr.haransivasambu1819 Год назад

Disgusting

@momen78699 Год назад

At this point - we genuinely need a revolution but no one's going to do that haha

@michaelmattern8188 Год назад

So no help for the poor then:((((

@mikebarratt6767 Год назад

That's what they are doing of the richest people to pay more taxes so that pay the money back in apparently

@whitenuttergoku7310 Год назад

Calling this a “fiscal event” allows the Tories to blame the working classes when this gamble goes wrong while allowing the black guy to get the blame when it does 😂

@isaacramsay7889 Год назад

This all aged so well 😂😂😂

@whitenuttergoku7310 Год назад

Blacks being used to implement the worst conservatives policies: Barrack Obama: Libya invasion Colin Powell: Iraq invasion Clarence Thomas: Anti-Abortion rights Anthony Johnson: First U.S slave owner Megan Merkel: Destroyer of monarchy Jon Grubbs: Face of police brutality ($100m lawsuit) Kwasi Kwarteng: Destroyed the economy

@keithparlour2686 Год назад

Enterprise needs low paid workers to keep it goin though doesn't it,increases living standards he says,thank fk I'm having an extra 63p a month,I might be able to afford a tin of Beans for food,wow,I'm impressed by this

@Macho98 Год назад

More borrowing to fund this, in addition to borrowing to limit energy prices, not very conservative

@xpld5017 Год назад

I knew he couldn't care less about most people when I saw him laughing during the queen's funeral

@gulagga371 Год назад

5 and 1%? Is that is it?

@jamesa1841 Год назад

To be fair, dissent among the tory ranks is a good way of keeping the government in line

@toogyman Год назад

Here hoping we get 15 million tourists from across the pond I might be under selling this a bit , better make it 20 mil

@digvijaynarukakeshri3700 Год назад

Rishi warn before, rishi was right, now uk currency is crashing

@allykid4720 Год назад

Rich = "People". Poor/middle = "who?"

@nojhead Год назад

This budget again misses middle earners entirely I think it would have been better to lower the 40% bracket than scrap the 45% Time after time governments help the rich, help the poor, and squeeze middle earners for all they can

@XeNeXX Год назад

They don’t help the poor at all with this, just top earners

@trancevoyagesessions Год назад

Vote Labour

@davidburrows4801 Год назад

They want to force the middle into the bottom ready for the great reset ,where the super rich will have total control.

@davidburrows4801 Год назад

@@trancevoyagesessions why ?both will crush brits and give everything to themselves and foreigners.

@archvaldor Год назад

The reason they didn't cut the 40% bracket is that those in that bracket can't afford to pay the best accountants to dodge tax while the 45% bracket can.

@johnrussell3961 Год назад

Return to Tory boom and bust.

@davidburrows4801 Год назад

Were already bust ,liquidation next.

@nickryder9669 Год назад

Did he just say to stop the hassle of dodging I will cut the higher tax

@dansanders2002 Год назад

What a disgusting play. The way they're all sat there laughing about making themselves richer while people starve or freeze to death.

@hellome1508 Год назад

What a joke this doesn't help the people who need help, it only helps the rich, raise the tax threshold would help more than all this rubbish. I voted Conservative in the last election, what a mistake, I will vote Labour in the next election.

@pjsretrogamesmusicandwrass5795 Год назад

I swear I thought it was Comedy Shorts Gamer

@martinmason6234 Год назад

Looks like a budget for the rich typical Tories

@zgzg8423 Год назад

Wth ... what an embarrassment 🤦‍♂️

@TheWealthUniversityOfficial 3 месяца назад

that didn't work did it!

@James-jl4jt Год назад

The tories once again showing how much contempt they treat anyone but the super rich with.

@Bobby-sm3tz Год назад

This is only a budget for rich people outside of the uk to take advantage of

@nanahamilton1101 Год назад

Brilliant 👏

@imola101 Год назад

a budget by the adams family

@bustedfender Год назад

Now just watch them use all that free money to raise your wages. Or join a Union ✊

@nitishdebnath9632 Год назад

"August warning"

@liamwilson5998 Год назад

At long a Conservative Government!

@MBGA123 Год назад

Much more conservative

@ilianalouka8648 Год назад

SHAME SHAME SHAME

@James-sj7pl Год назад

When did they let this bloke out of hospital!

@hockeystick73 Год назад

Shovelling public money into the bank accounts of their rich friends

@dianasitek3595 Год назад

Cutting taxes is the best way to jump-start economic growth. It worked for Reagan and Trump.

@peterphilstacey4698 Год назад

Absolutely self serving policies... this is too help themselves as they know there out by end of this term... and rad fems are in...

@absjones2916 Год назад

It’s he one she sleeping with??

@spuddles98 Год назад

Yeah…yeaaah…yeeyeeeyeeyeeeaaaaaahh…

@edfash9976 Год назад

They are spending too much already. This isnt going to last long

@redkop510 Год назад

Keep the rich,rich..keep the poor,poor.new govt,same old sh#t.🤔

@jakebe4915 Год назад

Yea, give the wealthy yet another tax cut!

@codzlaw Год назад

Always backwards: helping the few that sit there counting money and not spending vs giving the millions who have nothing more, the power to buy more, creating demand, causing more business then causing more jobs thus causing a greater growth. Cuts to businesses making billions won't make them open more "they already have the money to do that" if u gave it all to the poor the outcome will always be growth no gamble!!.

@backinthegame34 Год назад

Since the rich pay all the net tax in the first place, any tax cut by definition is a tax cut for the rich. Reagan did this and America boomed.

@muckraker7942 Год назад

So. Like Trump said. Hm.

@Moe.6770 Год назад

Since when did Deji get into politics?

@umbre04 Год назад

Ffs 😂

@cd7613 Год назад

So basically they worked out the figures to suit rich mates and hard working people are being pushed into poverty….soon enough we will have load of Oligarchs rest on a breadline

@kwabenaakuamoa9897 Год назад

Lol. It's truly astounding how little basic economics is understood by the general public. Those who understand economics recognise that this budget is actually very reasonable. Given we are now out of the EU, we have a unique opportunity to adopt bold economic strategies like this, and gain a competitive advantage over our competitors. Increasing the incentives and agency of the most productive sectors of an economy benefits everyone. That is how all prosperous societies have developed. It is shocking how ignorant the general public is about these basic things…

@Vellonary Год назад

But what happens when there isn't enough man power to offer? Want to get lead in industry,first scrap agencies.

@Bobby-sm3tz Год назад

Really? Do it by taking loans out as interest rates peak and taking a tax break for the richest where the money circulates to foreign accounts. How about REAL economics like the ftse has just dived and the pound sunk.

@boostmeup Год назад

@@Bobby-sm3tz markets react to things all the time, the issue is if the reaction last longer than a month or so.

@boostmeup Год назад

@Gammons Trout yes and for most of those years the ftse 100 has increased year on year

@Perehenaa Год назад

The public's view of this probably doesn't have anything to do with economics to begin with. All they see from it is "the rich get richer", and of course it pisses them off.

@sadabtajuddin4752 Год назад

We needed him long time ago

@keironullah4634 Год назад

Rather grow.

@rya789 Год назад

Well, let's get rich to survive! Amazing logic 🤗

@backinthegame34 Год назад

Put your back into it son !

@mutantryeff Год назад

The freest country in the world would have no taxes. Taxation is enslavement and I want reparations.

@revolution5005 Год назад

But America has taxes

@laurencefox5884 Год назад

And no roads, no army, no clean streets, no police....sounds great!

@celluskh6009 Год назад

Yeah, free countries like Saudi Arabia, UAE, and Somalia. Paying for things is not enslavement.

@johnrussell3961 Год назад

Civilisation requires taxation. Who funded building the town walls and the army to defend them?

@mutantryeff Год назад

@@johnrussell3961 There is a difference between groups pulling their resources together to build walls and be a militia, vs. centralized planners enslaving citizens to line their pockets before building the wall and having protection.

@user-nv2wt4hi8t Год назад

I'm going to be the uninformed one in the comment section. Can someone explain this to me please?

@tomaszsadowski1916 Год назад

It will help everyone a little, but it will not make a significant change.

@iainmillington904 Год назад

Won’t help hospitality

@iainmillington904 Год назад

We are turning150k a year in a fish and chip shop paying 20k in vat price increases on everything astronomical prices have increased by 30% in shop and trade through the till is down 20% on this time last year was hoping they would reduce the vat as many takeaways are not vat reg and undercutting us made 2 staff redundant in feb looks like three more are going today as we are closing the door

@RealOGfikey Год назад

*major tax cuts for the rich.

@backinthegame34 Год назад

Since the rich pay all the net tax in the first place, any tax cut by definition is a tax cut for the rich. Reagan did this and America boomed.

@RealOGfikey Год назад

@@backinthegame34 Except they don't pay taxes at all. They avoid it syphoning off their stolen wealth to offshore tax havens while the poor are left to make up the costs of them avoiding it. This is how America "boomed"...when it didn't.

@haleemabdurahman5151 Год назад

Ghana is now the King of Africa, it used to be Kenya and it was almost a Nigerian few months back....

@GeorgeMB07 Год назад

🤡🤡

@davidtaribo6817 Год назад

what does nationality have to do with budget policies?

@gaz3602 Год назад

Foreigners should not have any power In this country

@b.critical7873 Год назад

I know,Johnson was terrible!

@gibgibbo5738 Год назад

hes british by the way haha get ur facts in order white boi

@bakedbeans5494 Год назад

🤡

@countryroadsofficial7 Год назад

I have no comment, this jokers have no limit

@stuartparker6838 Год назад

The Tories to the rescue yet again. God bless liz truss. Make Britain great again.

@carmods6142 Год назад

Sarcasm ? She’s just crashed the pound and made already unaffordable mortgages much much more expensive, at the same time as making the gap between poor and rich greater OPEN YOUR EYES

@stuartparker6838 Год назад

@@carmods6142 yes it was